Washington residents who are in the midst of a divorce or have yet to legalize a separation may be susceptible to encountering several hardships in the short- and long-term future when it comes to deciding what happens to the marital home. Credit advisers say that one of the easiest ways to avoid potential problems is to provide lenders with enough documentation to help clear up any discrepancies that arise in the loan process.
People who are not vigilant in establishing legal separation during the divorce process may suffer adverse effects to their personal credit and may face difficulties securing a future loan as well. Creditors might still consider both parties jointly liable for a property if a divorce has not been finalized regardless of who is currently in possession of the home. In order to sign a mortgage for a new house before the divorce is finalized, the ex-spouse's signature is typically needed on a quitclaim deed.